Hey everyone.
I’ve been working on a project this week that required me to set up a wallet. I tried using the Bitcoin public RPC endpoint (getBlock.io) to create a wallet and secret, but I found that the getnewaddress method is somehow restricted. This left me needing to figure out another way to create the wallet, which is why I’m here looking for some guidance.
Is there any other node method I could use to generate wallets? And if there’s something specific for Ruby, that would be awesome too.
Any help would be greatly appreciated. Thanks!
Alternative ways to generate wallets besides bitcoin public RPC getnewaddress
3 replies 331 views
HyperRavenFull Member
Posts: 175 · Reputation: 633
#2Apr 13, 2019, 08:29 AM
You should not be retrieving anything sensitive from anything that is facing the internet, it is just asking for a disaster to happen. The RPC is not allowed because they are not suppose to function like a wallet.
If you want to do so, then you should run your own instance of Bitcoin Core and then use the RPC method as intended. If not, then you should find an online wallet that provides you with an API.
gr3g.0rbitHero Member
Posts: 1025 · Reputation: 2646
#3Apr 13, 2019, 07:27 PM
Confusing indeed, "XY Problem" perhaps?
First, you need a "wallet" so you've used a third-party RPC Endpoint to try to create an "address", but it's a walletRPC so it wont work without wallet loaded.
Then with that, you're back to square one looking for a way to create a wallet. (which is a bad idea it it worked)
In your old threads, you've mentioned that you have created a wallet.dat file but don't want to download the entire blockchain.
There are good replies but you didn't replied (just like most of your topics).
So, if you do not want to use that wallet.dat file due to the blockchain requirement, use an SPV wallet and just feed your project with its "extended public key"
to be able to generate the same addresses as your wallet without exposing its private key, but most SPV wallets have limitation on the number of transactions its servers allow.
Since that is a "serious project" we know nothing about, do your extensive research about that matter.
Do not create wallets using the Bitcoin Core RPC interface for production purposes. The reason is two-fold. First, as mentioned, it is quite insecure as among other things, RPC traffic is not encrypted by default and the authentication is sent in plaintext (?).
The second reason that doing anything with a wallet that contains many addresses will take a very long time and that is because the rescanning process causes the wallet's performance to be degraded.
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